Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Variational Omni+0.086%7-day average +0.001% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 3 days (all we have)−0.138%−$14 · spread now +0.086%, 7d avg +0.001%

Together, before fees−0.130%+ Points / potential airdropVariational Omni: Active · farm board−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.085% dearer against Variational Omni than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CAKE	2.5434	0.0100	pay 0.0050% / 4h	1h 56m	$542K	$491K	—
Short	BingX CAKE-USDT	2.5456	0.0100	get 0.0050% / 4h	1h 56m	—	$3.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee BingXbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → +0.001%: $8.51
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1.49
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 27 min ago; BingX: live order book, 8 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Variational Omni RFQ quote, 27 min ago	6.63 bp	doesn't fit	52.1 bp −$521	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	3.34 bp	10.2 bp −$10	13.3 bp −$133	24.4 bp −$2,440	44.8 bp −$22.4K

CAKE on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_CAKE_USDC	+0.0015%	4h	2.5428	−0.024%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.023%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5492	+0.228%	$3.2M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5465	+0.120%	$2.4M	$89K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5464	+0.118%	$18.3M	$38.6M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5432	−0.008%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5428	−0.024%	$887K	$761K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5451	+0.066%	$14.2M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5461	+0.106%	$2.5M	$5.7M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5472	+0.149%	$2.7M	$2.8M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDTshort	+0.0100%	4h	2.5456	+0.086%	—	$3.5M	—
Variational Omni CAKElong	+0.0100%	4h	2.5434	long leg	$542K	$491K	—
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5443	+0.035%	$13K	$697K	50x	as long as short
BloFin CAKE-USDT	+0.0104%	4h	2.5430	−0.016%	$995K	$355K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5430	−0.017%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0773%	1h	2.5582	+0.580%	$57K	$37K	10x	as long as short